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Recruit Announces Investment In Blockchain Company COTI Through Funding Arm RSP.

Benzinga logo Benzinga 5/23/2019 Luis Aureliano
© Provided by Accretive Capital LLC

In an announcement released through its website, Japan-based Recruit will invest in COTI, the next generation blockchain provider. The investment will be coordinated through Recruit’s RSP funding division. With a $50 billion market cap, the news represents another major investment by Recruit into the blockchain technology field through its Blockchain Tech Fund. 

Recruit, as a global enterprise and technology leader, uses the investment fund to participate and help in blockchain technology startups with real value platforms. The company has seen genuine use cases arise for blockchain related payment processing solutions like COTI and is confident of seeing a shift in the industry in this direction. 

Why COTI?

The problem facing the blockchain industry is scalability. Initial blockchain platforms like Bitcoin and Ethereum were revolutionary, but have been unable to scale according to the needs of the market. With small transactions per second (TPS), these platforms cannot achieve the kind of market movement that enterprise companies require. 

What’s more, these platforms can also create major concerns because of lack of user protections. Identity theft, hacking issues, and instability have all led to a general distrust of these foundational blockchain platforms among the broader consumer market. The crypto winter of 2018 proved that the wider market was not ready to embrace these solutions. 

On the contrary, the COTI platform is designed to provide enterprise level scaling solutions with  simplicity. The company has already built and tested a blockchain platform with the ability to process enterprise-level TPS, while still maintaining security and stability for its users. 

The solution is possible through COTI’s DAG-based technology solutions, and is coupled with a unique set of algorithmic functions designed through machine learning. By offering this level of TPS speed and trust, the company represents the cutting edge of the blockchain technology industry. 

According to the Recruit announcement, the company believes that COTI offers the solution the industry needs for further adoption.  “With a dramatically faster transaction processing speed than conventional blockchain technology, Coti's technology is able to service the processing needs of everyday payments. Furthermore, the transaction history tool developed by Coti allows one to automatically detect payments to potentially suspicious accounts.”

Major help

COTI is also encouraged by the partnership, as the company has continued moving forward in its technology growth cycle. The company has already proven to be a front-runner in the blockchain world, offering solutions that other platforms cannot.

a man holding a glass of wine

According to CEO Shahaf Bar-Geffen, the company sees the investment as a means of continued future growth. He said, “We’re pleased to have made it on the radar of the RSP Blockchain Fund and its larger mission of making leading blockchain projects known to the world at large. This is a notable accomplishment for COTI and further anchors our belief in the enormous potential of the technology market in East Asia.”

The partnership between Recruit and COTI promises to move the blockchain technology industry forward. As companies like these partner together, the industry will continue to grow in its adoption cycles.

Image sourced from Pixabay

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